PENGARUH KINERJA KEUANGAN TERHADAP RETURNSAHAM PERUSAHAAN SEKTOR FOOD AND BEVERAGES DI BEI | Sulistiyono | Jurnal Manajemen Kewirausahaan

PENGARUH KINERJA KEUANGAN TERHADAP RETURNSAHAM PERUSAHAAN SEKTOR FOOD AND BEVERAGES DI BEI

Sugoto Sulistiyono, Sahat M.P. Tanjung

Abstract


Instruments in the capital markets are often used for investing is stock. Investors who want to invest in the shares of a certain profit level of investment is called the stock return . Increase or decrease in the acquisition of the stock return is determined by the investor company's projected financial performance in the financial statements. The purpose of this study to determine the significance of the simultaneous effect of both financial performance and partial that views of the level of liquidity, solvency, profitability, and the market valuation of the stock return on the company's food and beverage sector in Indonesia Stock Exchange from 2011 to 2015 . Based on the results of simultaneous testing can be seen that the company's financial performance has a significant impact on stock returns. Meanwhile, through a partial test results show that the only solvency variable has a significant impact on stock returns, while other financial performance variables showed no influence on stock returns.

 

Keywords : stock returns, liquidity, solvency, profitability, market valuation

Full Text:

PDF

References


Arista, Desy dan Astohar.2012. Analisis Faktor-Faktor yang Mempengaruhi Return Saham (Kasus pada Perusahaan Manufaktur yang Go Public di BEI periode tahun 2005 - 2009). Jurnal limit Manajemen dan Akuntami Terapan, Vol. 3, No. 1, Hal. 1 - 15.

Brigham, Eugene F. dan Houston, Joel F. 2009. Dasar-Dasar Manajemen Keuangan (Essentials Of Financial Management). Edisi Kesepuluh. Jakarta: Salem ba Empat.

Chairatanawan, Yongyoot. 2008. Predictive Power of Financial Ratios to Stock Return in Thailand. RU International Journal, Vol 2, No. 2, pp. 113-120.

Emamgholipour, Milad, Abbasali Pouraghajan, Naser Ail Yadollahzadeh Tabari, Milad Haghparast, dan Ali Akbar Alizadeh Shirsavar. 2013. The Effects of Performance Evaluation Market Ratios on the Stock Return: Evidence from the Tehran Stock Exchange. International Research Journal of Applied and Basic Sciences, Vol 4, No. 3, pp 696-703.

Gill, Amarjit, Nahum Biger, dan Rajendra Tibrewala. 2010. Determinants of Dividend Payout Ratios: Evidence from United States. The Open Business Journal, Vol 3, pp. 8-14.

Haghiri, Amir dan Soleyman Haghiri. 2012. The Investigation of Effective Factors on Stock Return with Emphasis on ROA and ROE Ratios in Tehran stock exchange (TSE). Journal of Basic and Applied Scientific Research, Vol. 2, No. 9, pp. 9097-9103.

Harahap, Sofyan Syafri. 2009. Analisis Kritis atas Laporan Keuangan. Jakarta : Rajawali Pers.

Harjito, Agus dan Rangga Aryayoga.2009. Analisis Pengaruh Kinerja Keuangan dan Return Saham di Bursa Efek Indonesia. Jiimal Fenomena, Vol. 7, No. 1, hal.13-21.

Hartono, Jogiyanto. 2010. Teori Portofolio dan Analisis Investasi. Yogyakarta: BPFE.

Hatta, Atika Jauharia dan Bambang Sugeng Dwiyanto. 2012. The Company Fundamental Factors and Systematic Risk in Increasing Stock Price. Journal of Economics, Business, and Accountancy Ventura, Vol. 15, No. 2, pp. 245-256.

Hermawan, Dedy Aji. 2012. Pengaruh Debt to Equity Ratio, Earning per Share, dan Net Profit Margin Terhadap Return Saham. Management Analysis Journal, Vol. 1, No. 5, Hal. 1 - 7.

Imran, Kashif. 2011. Determinants of Dividend Payout Policy: A Case of Pakistan Engineering Sector. The Romanian Economic Journal, Vol. 14, No. 1, pp. 47-59.

John, S. Franklin dan K. Muthusamy. 2010. Leverage, Growth and Profitability as Determinants of Dividend Payout Ratio-Evidence from Indian Paper Industry. Asian Journal of Business Management Studies, Vol. 1, No. 1, pp. 26-30.

Kabajeh, Majed Abdel Majid, Said Mukhled Ahmed AL Nu'aimat, dan Firas Naim Dahmash. 2012. The Relationship between the ROA, ROE and ROI Ratios with Jordanian Insurance Public Companies Market Share Prices. International Journal of Humanities and Social Science, Vol.2, No.ll,pp. 115-120.

Kasmir. 2012. Analisis Laporan Keuangan. Jakarta : Rajawali Pers.

Rristiana, Vera Anis dan Untung Sriwidodo.2012. Analisis Faktor-faktor yang Mempengaruhi Return Saham Investor Pada Perusahaan Manufaktur di Bursa Efek Indonesia. Jumal Ekonomi dan Kewirausahaan, Vol. 12, No. 1, hal.1 - 11.

Limento, Andrew Dustin, dan Neneng Djuaeriah. 2013. The Determinant of The Stock Price in Indonesian Publicly Listed Transportatioan Industry. Journal of Business and Information, pp. 776-794.

Malintan, Rio. 2012. Pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), Price Earning Ratio (PER), dan Return on Assets (ROA) terhadap Return Saham Perusahaan Pertambangan yang Terdaftar di Bursa Efek Indonesia Tahun 2005-2010. Jumal Akuntansi Fakultas Ekonomi dan Bisnis Brawijaya.

Martani, Dwi, Mulyono, dan Rahfiani Khairurizka. 2009. The effect of financial ratios, firm size, and cash flow from operating activities in the interim report to the stock return. Chinese Business Review. Vol. 8, No. 4, pp. 44 - 55

Olowoniyi dan Ojenike. 2012. Determinants of Stock Return of Nigerian-Listed Firms. Journal of Emerging Trends in Economics and Management Sciences (JETEMS), Vol. 3, No. 4, pp. 389-392.

Rafique, Mahira. 2012. Factors Affecting Dividend Payout: Evidence From Listed Non- Financial Firms of Karachi Stock Exchange. Business Management Dynamics, Vol.l, No. 11, pp.76-92.

Sari, Lusia Astra dan Yanthi Flutagaol. 2012. Debt to Equity Ratio, Degree of Operating Leverage Stock, Beta and Stock Returns of Food and Beverages Companies on Indonesian Stock Exchange. Journal of Applied Finance and Accounting, Vol. 2, No. 2, pp. 1-13.

Sartono, Agus. 2001. Manajemen Keuangan Teori dan Aplikasi. Yogyakarta : BPFE

Saqafi, Vahid dan Hamidreza Vakilifard. 2012. The Effect of Variables of The Fundamental Techniques on Return of The Stock in Tehran Stock Exchange. Interdisciplinary Journal of Contemporary Research in Business, Vol. 4, No. 3, pp. 808 -813.

Suarjaya, I Wayan Adi dan Henny Rahyuda. 2013. Pengaruh Faktor Fundamental Terhadap Return Saham Pada Perusahaan Makanan dan Minuman di BEL Jumal Manajemen Fakultas Ekonomi Universilas Udayana, Vol. 2, No. 3.

Sugiarto, Agung. 2011. Analisa Pengaruh Beta, Size Perusahaan, DER, dan PBV Ratio Terhadap Return Saham. Jurnal Dinamika Akuntansi, Vol. 3, No. 1, Hal. 8-14.

Suharli, Michell. 2005. Studi Empiris Terhadap Dua Faktor yang Memengaruhi Return Saham pada Industri Food and Beverages di Bursa Efek Jakarta. Jumal Ekonomi Akuntansi dan Keuangan, Vol. 7, No. 2, Hal.99-116.

Sun, Lan. 2012. Information Content of PE Ratio, Price-to-book Ratio and Firm Size in Predicting Equity Returns. International Conference on Innovation and Information Management, Vol. 36, pp. 262-267.

Susilowati, Yeye dan Tri Turyanto. 2011. Reaksi Signal Rasio Profitabilitas dan Rasio Solvabilitas Terhadap Return Saham Perusahaan. Dinamika Keuangan dan Perbankan, Vol.3, No.l, Hal.17-37.

Tandelilin, Eduardus. 2010. Analisis Investasi dan Manajemen Portofolio. Yogyakarta : BPFE.

Ulupui, I.GK.A. 2007. Analisis Pengaruh Rasio Likuiditas, Leverage, Aktivitas, dan Profitabilitas terhadap Return Saham (Studi pada Perusahaan Makanan dan Minuman dengan Kategori Industri Barang Konsumsi di BEJ". AUDI Jurnal Akuntansi dan Bisnis, Vol. 2, No.l.

Wiagustini, Ni Luh Putu. 2010. Dasar-Dasar Mcmajemen Keuangan. Denpasar : Udayana University Press.

Widjaya, Indra. 2009. Pengaruh Current Ratio dan Ukuran Perusahaan Terhadap Return Saham Perusahaan Sektor Industri Dasar dan Kimia. Jumal Organisasi dan Manajemen, hal.27-37.

Wijaya, David. 2008. Pengaruh Rasio Modal Saham Terhadap Return Saham Perusahaan- Perusahaan Telekomunikasi Go Public di Indonesia Periode 2007. Jumal Manajemen dan Kewirausahaan, Vol.10, No.2, Hal.136-152.

Yunanto, Muhammad dan Henny Medyawati. 2009. Studi Empiris Terhadap Faktor Fundamental dan Teknikal yang Mempengaruhi Return Saham pada Bursa Efek Jakarta. Jumal Ekonomi Bisnis, No. 1, Vol 14, Hal. 28




DOI: http://dx.doi.org/10.33370/jmk.v14i1.24

Refbacks

  • There are currently no refbacks.


Copyright (c) 2017 Jurnal Manajemen & Kewirausahaan

Indexed By:

          

Jurnal Manajemen Kewirausahaan

Publish by LP2M Sekolah Tinggi Ilmu Ekonomi IPWI Jakarta

Gd. H.R. Soemitro Lt. 2 Jl. Ledta Natsir No. 7 Nagrak, Gunung Puteri, Bogor